Month: December 2019



Inheriting an IRA?

The SECURE Act was signed into law on December 20th and will impact anyone with retirement accounts.  Under the new legislation, beneficiaries of IRA’s will need to withdraw the money within 10 years.  Under the previous law, a person could stretch out the payments over their lifetime.  The article goes into detail about where this could become tricky and the main area would be for people inheriting the IRA through a trust.  They recommend that if you do have an IRA trust to get it reevaluated to make sure the language in it is not going to do anything to be detrimental.  The article suggests that this new rule will generate an additional $15.7 Billion in tax revenue over the next decade. 12.31.19

Holiday Shopping Deadline Cheat Sheet

Whether you’re mailing a package or buying online, you need to know if it will arrive in time for the holidays. The shopping season, marked from Thanksgiving to Christmas, is six days shorter than it was last year. Thankfully, there’s still enough time to place online orders with some retailers — but time is ticking. NBC News recently posted a holiday shipping deadline cheat sheet for online shoppers. Amazon Prime members have until Sunday, Dec. 22 for ordering tens of millions of items that are delivered for free. Walmart’s big deadline for most holiday online orders is Sunday, Dec. 22 at 11 a.m. PT. Target recommends that customers order by Friday at 12 p.m. CT to receive free, guaranteed delivery by Christmas Eve. NBC lists these holiday favorites, and many more, on their holiday cheat sheet, written by Alyssa Newcomb. 12.18.19

Number 1 Place to Retire?

If warm weather, easy access to the beach and an affordable price tag sound like your dream retirement, this town might be for you. Editor Catey Hill recently took a look at a new report by U.S News and World Reports that listed the best places in the United States to retire. Unsurprisingly, Fort Myers — a midsize riverfront city in southwest Florida just a stone’s throw from Gulf of Mexico beaches — topped the list. Fort Myers, according to many local residents, has retained its small-town heritage while building its museum, festival, and beach communities. Perhaps most praiseworthy, Fort Myers is fairly affordable. Currently, their cost of living is just a bit above average and their median home is priced at just a little over $200,000. Plus, Florida doesn’t have a state income tax, so your 401(k), IRA or pension withdrawals won’t be taxed by the state, nor will your Social Security. Of course, Fort Myers has some big downsides, which include muggy, hot summers and the fact that the area can sometimes feel overrun with tourists. 12.4.19